Amazon upgraded to overweight from sector weight at KeyBanc Capital

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Microsoft’s stock rallies as ‘golden cross’ forms about 5 weeks after a ‘death cross’

Shares of Microsoft Corp. rose 0.9% toward a 5-month high in afternoon trade Tuesday, as they were on track to produce a bullish “golden cross” chart pattern just 27 trading days after a bearish “death cross” had formed. The software giant’s 50-day moving average rose to $106.71 from $106.45 on Monday, while the 200-day moving average edged up to $106.58 from $106.50, according to FactSet. The previous death cross had formed on Jan. 31, about a month after the stock had bottomed at a more-than 7-month low on Dec. 24. The previous golden cross on Aug. 9, 2016 appeared 32 sessions after a death cross, while the one before that appeared Oct. 8, 2015, which was just 7 sessions after a death cross. Microsoft shares have rallied 17.5% over the past 12 months while the Dow Jones Industrial Average has tacked on 1.5%. Microsoft remained the largest U.S. company in terms of market capitalization, with a market cap of $872.6 billion, ahead of second-place Apple Inc. at 853.3 billion, third-place Google parent Alphabet Inc. at $834.9 billion and fourth-place Amazon.com Inc. at $824.0 billion.

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